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Posted: 6/27/2022 6:36:00 PM EDT
[#1]
Do you have the means to travel to December 2020?
 I used Rocket and Lending Tree to get a rough baseline, then called USAA and a few local lenders. Ended up going with Rocket. |
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Posted: 6/27/2022 6:37:25 PM EDT
[#2]
Check your local credit unions. I refinanced with one of mine a couple years ago. Their rates were on par with national levels and they were a lot easier for me to deal with than a national chain.
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Posted: 6/27/2022 6:38:33 PM EDT
[#3]
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Posted: 6/27/2022 6:46:44 PM EDT
[#4]
With rubber gloves and anal lube.
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Posted: 6/27/2022 6:47:25 PM EDT
[#5]
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Posted: 6/27/2022 7:09:45 PM EDT
[#6]
Quote HistoryQuoted: Check your local credit unions. I refinanced with one of mine a couple years ago. Their rates were on par with national levels and they were a lot easier for me to deal with than a national chain. I'm probably wrong, but might a person have better luck finding a nationwide institution that would waive closing fees? None of our local banks or credit unions offered that. |
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Posted: 6/27/2022 7:16:56 PM EDT
[#7]
when i purchased new townhome, i inadvertently pitted 3 lender agents on each other and created a buyers market for myself.
i will say, it definitely saved me money, and will you too. it was annoying as fuck, but saved me at least a few hundred or more. would literally forward the quotes to opposite agent and they’d come back “with a better quote.” that’s when i realized i has to print them out and literally compare closing cost fees line by line, which i did. they can cut costs all over, but assume you’ll BEND OVER and accept it. fuck that. $60 binder fee? i’ll buy you one from office depot for less than $5. useless on my end?! certainly not an expert; young & have only done one mortgage, plus a refi during rona, but i did pickup on a few tricks. feel free to PM me if you’d like to chat. i honestly felt like i was dealing with a car salesman....i walk in knowing i’m going to bend over with no lube, but always give resistance 
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Posted: 6/27/2022 7:17:08 PM EDT
[#8]
Heard from someone that rocket loans has competitive rates. But haven’t checked for myself
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Posted: 6/27/2022 7:20:59 PM EDT
[#9]
How does comparing lenders affect your credit score? Is it a hard pull per lender?
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Posted: 6/27/2022 7:21:26 PM EDT
[#10]
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Posted: 6/27/2022 7:21:57 PM EDT
[#11]
Avoid Wells Fargo Mortgage, they're a joke.
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Posted: 6/27/2022 7:22:34 PM EDT
[#12]
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Posted: 6/27/2022 7:23:00 PM EDT
[#13]
Quote HistoryQuoted: How does comparing lenders affect your credit score? Is it a hard pull per lender? Once you get one hard tickle you get 2-weeks IIRC to make as many more as you'd like. They can see each other's checks BTW. |
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Posted: 6/27/2022 7:27:19 PM EDT
[#14]
Quote HistoryQuoted: Once you get one hard tickle you get 2-weeks IIRC to make as many more as you'd like. They can see each other's checks BTW. Quote HistoryQuoted: Quoted: How does comparing lenders affect your credit score? Is it a hard pull per lender? Once you get one hard tickle you get 2-weeks IIRC to make as many more as you'd like. They can see each other's checks BTW. Would love to know if this is true. |
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Posted: 6/27/2022 7:27:26 PM EDT
[#15]
Whenever I needed a loan for anything, I would shop around and ultimately my Credit Union, that I keep
an account with, gave me the best product. Now I don't even shop. I have one car loan, the primary mortgage and an open HELOC with zero balance, but they are all through the same FCU, and they treat me like a baller, even though I'm a nobody. |
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Posted: 6/27/2022 7:29:05 PM EDT
[#16]
Just fyi, the rates and everything else are negotiable.
The first quote they give you is what they hope you’ll take. |
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Posted: 6/27/2022 7:31:27 PM EDT
[#17]
I use a local mortgage broker. He pulls your credit and whatnot and shops around a bunch of places and comes back with his best rate. When I compared his numbers to what my credit unions would do, the credit union was a hair lower, but had higher fees so the closing costs were higher. I went through the same guy for 2 purchases and 3 refinances and every time, he was the best price once you factor in both the rate and the fees.
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Posted: 6/27/2022 7:32:32 PM EDT
[#18]
Quote HistoryQuoted: Would love to know if this is true. It's true. "If you’re shopping for a new auto or mortgage loan or a new utility provider, the multiple inquiries are generally counted as one inquiry for a given period of time. The period of time may vary depending on the credit scoring model used, but it's typically from 14 to 45 days. This allows you to check different lenders and find out the best loan terms for you. All new auto or mortgage loan or utility inquiries will show on your credit report; however, only one of the inquiries within a specified window of time will impact your credit score. This exception generally does not apply to other types of loans, such as credit cards. All inquiries will likely affect your credit score for those types of loans." TU and Experian have a similar explanation on their websites. |
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Posted: 6/27/2022 7:33:08 PM EDT
[#19]
Time machine.
Truth is, rates are usually pretty consistent from place to place. You might find 1/2% difference by shopping around, and you should, but don't expect miraculous differences in today's markets. |
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Posted: 6/27/2022 7:36:49 PM EDT
[#20]
Quote HistoryQuoted: when i purchased new townhome, i inadvertently pitted 3 lender agents on each other and created a buyers market for myself. i will say, it definitely saved me money, and will you too. it was annoying as fuck, but saved me at least a few hundred or more. would literally forward the quotes to opposite agent and they’d come back “with a better quote.” that’s when i realized i has to print them out and literally compare closing cost fees line by line, which i did. they can cut costs all over, but assume you’ll BEND OVER and accept it. fuck that. $60 binder fee? i’ll buy you one from office depot for less than $5. useless on my end?! certainly not an expert; young & have only done one mortgage, plus a refi during rona, but i did pickup on a few tricks. feel free to PM me if you’d like to chat. i honestly felt like i was dealing with a car salesman....i walk in knowing i’m going to bend over with no lube, but always give resistance This is great advise. My local bank wanted to give the home contract to the appraisal guy so the numbers matched.  Really, the time for the best rates was a year ago. If you have a 20% down payment, good credit, work a few lenders and you will get a good deal. |
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Posted: 6/27/2022 7:39:21 PM EDT
[#21]
Last year I contacted my mortgage holder and told them I wanted to refi. Wells Fargo I know. They told me they would match whatever the lowest offer I could get elsewhere, assholes. They quoted me 3.5. I then contacted a local guy who originally financed my loan and he quoted me 3.5. So I went online and searched some websites that list mortgage lenders and rates. I chose two and one was called Better.com. They offered 2.75 on 30yr no points. I went back to Wells and they matched it. It was a pain in the ass but worth the effort. Hope this helps.
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Posted: 6/27/2022 10:09:26 PM EDT
[#22]
Quote HistoryQuoted: This is great advise. My local bank wanted to give the home contract to the appraisal guy so the numbers matched. Really, the time for the best rates was a year ago. If you have a 20% down payment, good credit, work a few lenders and you will get a good deal. oh yeah, the lenders will fuck you left and right to make a little extra money. it’s all part of their commission, i presume. part of me wonders if the other GA mortgage person wasn’t my lender both on initial purchase & refi. i even referenced my dad to him, with us both doing refi’s, and he promised me ultra hot deals for us both; i even suggested supper on him. he promised it all.....all to deliver the same, “best and final,” quote he could. i got zero benefit of referring a high paying client to him. not even a $25 wally world thank you gift card. left a sour taste in my mouth. |
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Posted: 6/27/2022 11:26:55 PM EDT
[#23]
Quote HistoryQuoted: This is great advise. My local bank wanted to give the home contract to the appraisal guy so the numbers matched. Really, the time for the best rates was a year ago. If you have a 20% down payment, good credit, work a few lenders and you will get a good deal. Quote HistoryQuoted: Quoted: when i purchased new townhome, i inadvertently pitted 3 lender agents on each other and created a buyers market for myself. i will say, it definitely saved me money, and will you too. it was annoying as fuck, but saved me at least a few hundred or more. would literally forward the quotes to opposite agent and they’d come back “with a better quote.” that’s when i realized i has to print them out and literally compare closing cost fees line by line, which i did. they can cut costs all over, but assume you’ll BEND OVER and accept it. fuck that. $60 binder fee? i’ll buy you one from office depot for less than $5. useless on my end?! certainly not an expert; young & have only done one mortgage, plus a refi during rona, but i did pickup on a few tricks. feel free to PM me if you’d like to chat. i honestly felt like i was dealing with a car salesman....i walk in knowing i’m going to bend over with no lube, but always give resistance This is great advise. My local bank wanted to give the home contract to the appraisal guy so the numbers matched. Really, the time for the best rates was a year ago. If you have a 20% down payment, good credit, work a few lenders and you will get a good deal. We don't have 20% and can't pass up this opportunity, so we have to do PMI. It's a tough window for us. |
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Posted: 6/28/2022 10:44:52 AM EDT
[#24]
Quote HistoryQuoted: Would love to know if this is true. My experience is that they can see credit checks for different companies but not details, most will not give you real numbers unless you provide a contract, I saved a crap load of money with fairway by offering the loan to cake mortgage. Cake was going to be cheaper but fairway exceeded. So, shop around but only real numbers matter. |
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Posted: 6/28/2022 11:13:21 AM EDT
[#25]
If you have good credit and a clean deal with good LTV, etc, then I'd go directly to a lender like Provident. In my experience, their rates and fees are very competitive and better that what I could find going through a broker, but they are picky about their approvals which is how they can offer good rates and fees.
https://www.provident.com/TodaysRates A few years ago I refinanced through better.com and got a great deal on a 2.75% fixed, but that ware partly because amex was running a promo to credit back $2500 in closing fees which made it worthwhile for me. I don't know if better.com is still competitive or not. |
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Posted: 6/28/2022 2:39:20 PM EDT
[#26]
Quote HistoryQuoted: If you have good credit and a clean deal with good LTV, etc, then I'd go directly to a lender like Provident. In my experience, their rates and fees are very competitive and better that what I could find going through a broker, but they are picky about their approvals which is how they can offer good rates and fees. https://www.provident.com/TodaysRates A few years ago I refinanced through better.com and got a great deal on a 2.75% fixed, but that ware partly because amex was running a promo to credit back $2500 in closing fees which made it worthwhile for me. I don't know if better.com is still competitive or not. Thanks that’s a good rate compared to what we’ve been seeing. The LTV is not an issue, have excellent credit, minimal debts(14% DTI) it’s just we don’t have a lot of liquid. Rocket mortgage has been on top of things the most. We have received emails and calls from them since applying this morning. Everyone wants 10k to close which seems like a lot of money. |
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Posted: 6/28/2022 4:51:45 PM EDT
[#27]
Quote HistoryQuoted: Thanks that’s a good rate compared to what we’ve been seeing. The LTV is not an issue, have excellent credit, minimal debts(14% DTI) it’s just we don’t have a lot of liquid. Rocket mortgage has been on top of things the most. We have received emails and calls from them since applying this morning. Everyone wants 10k to close which seems like a lot of money. I had my mortgage with Provident for a while, and there were no surprises along the way. They didn't sell off my Mortgage and held it internally. My refi with better.com also was smooth, but again that was a couple of years ago and I don't know how they are now. I would also check LoanDepot.com as they were competing with better when I refinanced. If the rates published by Provident look good to you, then I would apply and see what the feedback is. |
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Posted: 6/28/2022 6:12:54 PM EDT
[#28]
Quote HistoryQuoted: I'm probably wrong, but might a person have better luck finding a nationwide institution that would waive closing fees? None of our local banks or credit unions offered that. No you're not off the mark. My credit union had very competitive closing costs and rates less than most of the big banks at the time. Probably all a timing thing one which is better. |
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